By Mary Drueke-Collins, FSA As more and more Americans face high deductible health plans (HDHPs) and increased up-front out-of-pocket costs, it is more important than ever to closely monitor medical bills for errors. According to the Medical Billing Advocates of America, more than 80% of medical bills contain errors, which can cost patients thousands of […]
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Compliance Recap // February 2015
Regulatory agencies were busy during the month of February, providing information on a variety of topics including: (1) reporting, (2) premium payment arrangements, (3) single benefit products and excepted benefits, (4) and benefit parameters. More information was also released on the “Cadillac tax” and on the definition of “spouse” as it relates to the Family […]
Read moreEmployee Relations – On-site clinics
If it’s On-site, It’s Alright During this period of health care reform, most employers are looking at ways to control health care costs while still maintaining a healthy workforce and providing excellent medical services to their employees. One of the ways to accomplish this goal is by having an on-site clinic or one that’s nearby. […]
Read moreUpdate: What Employers Need to Know Right Now About Health Care Reform: Premium reimbursement, Single Benefit and Excepted Benefits, and Cadillac Tax update
The regulatory agencies have recently issued guidance that may affect employers that have been reimbursing premiums for individual health coverage or Medicare Part B, Part D or Medigap premiums for active employees. In addition, new rules were issued for single benefit supplemental plans, which may affect minimum essential coverage programs that include “wrap” benefits for […]
Read moreHighlights of Employer and Insurer Reporting Requirements
The Patient Protection and Affordable Care Act (PPACA) provides that individuals who do not have minimum essential (basic medical) coverage will owe a penalty unless they qualify for an exemption. Employers with 50 or more employees that do not offer affordable, minimum value coverage to their full-time employees also will owe a penalty. In addition, […]
Read moreCompliance Recap // January 2015
IRS Releases Information and Forms for Satisfying the Individual Mandate and Claiming 2014 Premium Tax Credits Although employers are not required to offer coverage during 2014, individuals are generally required to have health coverage during 2014 and must report on that coverage through their 2014 federal income tax return. In many cases, the employee will […]
Read moreCompliance Recap // December 2014
During the month of December Congress passed a temporary increase to the transit pass and vanpooling benefit and the regulatory agencies released several cost-of-living increases, proposed relatively minor revisions to the Summary of Benefits and Coverage (SBC) requirement, and updated the list of counties in which foreign language versions of the SBC and other benefits […]
Read moreGuest Blog – Can Employers Assist Employees with Premiums for Individual Plans? by Carol Taylor, Employee Benefit Advisor, D&S Agency, a UBA Partner Firm
On November 6, 2014, the collective Departments of Health and Human Services (HHS), Labor (DOL) and the Treasury released three Frequently Asked Questions (FAQs) directed at employer payment plans for the purchase of individual insurance. While the departments had previously released several other pieces of guidance about these arrangements, this latest round exclaimed an emphatic […]
Read morePreparing for 2015 – Key PPACA Requirements
As we approach 2015, employers should be taking steps to ensure they are prepared to meet the Patient Protection and Affordable Care Act (PPACA) requirements that begin in 2015 and those which must be completed in 2014. The most significant upcoming requirements and options for an employer include the following. Section 125 Plans The maximum […]
Read moreEmployee Handbooks — Do’s and Don’ts Webinar – Last Chance to register!
Benefit Insurance Marketing is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nations leading employment and benefit law firms, Jackson Lewis LLP. Best of all, you can […]
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